Research Report Detail

Brokerage Analyst

Report Date

Call

Price@Call

Target Price Stop Loss

Current Status

Time Horizon

ReligareN/A

09-05-2016

Hold

364.10

360.00N/A

Target Hit

Long (1Y)09-05-2017

Religare maintains hold on Titan Company

Titan's Q4 earnings were below estimates on all counts amid a weak macro, new regulatory controls for the jewellery business. Current valuation at 32.6 times FY18 estimated earnings per share appear fair and adequately factor in the inherent strength of Titan's franchise.